American Morning
What possible plans are lawmakers negotiating to raise the debt ceiling?
Consultations will continue today about a possible deal that would raise the debt ceiling and cut $3 trillion from the federal deficit after word spread last night that a possible deal is being negotiated between President Barack Obama and House Speaker John Boehner.
Spokesmen for Obama and Boehner have denied that a deal is imminent and both lawmakers still have to sell the deal to members of their own parties.
Republicans generally have opposed any tax increases while Democrats have balked at proposals that would cut too deeply into entitlement program spending.
Ron Brownstein, CNN senior political analyst, joins American Morning today to discuss what possible plans are on the table and to weigh in on the status of the negotiations.
What will happen if lawmakers fail to raise the debt ceiling by August 2nd? Jay Powell weighs in
With the August 2nd deadline to raise the debt ceiling just eleven days away, efforts to avoid a potential U.S. default have entered a critical phase.
Many fear that failing to raise the debt ceiling would send shock waves through the underpinnings of the financial system, adding urgency to the negotiations between President Barack Obama and top lawmakers as they continue to try to strike a sweeping deficit-reduction deal.
Today on American Morning, Jay Powell, Treasury Under Secretary under President George H.W. Bush, tells Ali Velshi what he thinks will happen if a deal isn't reached within the next few days and explains what the consequences will be for the average American if the debt ceiling isn't raised.
Political panel: How are lawmakers reacting to the McConnell/Reid budget plan?
On Thursday, President Obama told congressional leaders that he expects them to consult with their respective caucuses and find agreement over the next 24 to 36 hours on how to proceed with the debt talks.
The President is scheduled to hold a news conference at 11 a.m. today to provide an update on the status of the negotiations - a subject which has brought partisan tempers to a boil over the past week.
Today on American Morning, Jim McLaughlin, GOP strategist, John Avlon, CNN political contributor, and Maria Cardona, Democratic strategist, weigh in on how they think the talks will progress.
Rep. Jim Jordan: 'We are not going to raise taxes'
With President Obama and GOP congressional leaders in a stalemate over a deficit-reduction plan necessary to raise the nation's debt ceiling, two of the "Big Three" global credit rating agencies–Moody's and Standard and Poor's–announced yesterday that they were considering downgrading the United States' credit rating.
Moody's cited the "rising possibility" that the U.S. debt limit will not be raised in time to avoid default.
Representative Jim Jordan (R-OH), president of the Republican Study Committee, talked with Ali Velshi on American Morning about the potential downgrade, Representative McConnell's proposed plan and why he is pushing for a balanced budget amendment.
State in Crisis: The status of the Minnesota government shut down
Minnesota is in its second week of a budget shutdown and thousands of state employees are at home without pay.
The services provided by the Minnesota government have ceased, with road projects on pause and parks closed until the state reaches a deal on a new budget.
Today on American Morning, Lori Sturdevant, columnist and editorial writer for The Minneapolis Star Tribune, joins Kiran Chetry to talk about the impact the shutdown has had on the state and to discuss what it is going to take to get the budget passed.
Political panel: What is the status of the White House budget negotiations?
Congressional leaders will return to the White House today for further negotiations after Republicans and Democrats were unable to reach an agreement this weekend on a deficit-reduction deal that will pave the way for a hike in the nation's $14.3 trillion debt ceiling.
At 11 a.m. today, President Barack Obama is scheduled to hold a press conference in the White House briefing room about the status of the negotiations.
Susan Molinari, former Congresswoman and Republican analyst, and Jennifer Palmieri, former White House Deputy Press Secretary, join Kiran Chetry this morning to discuss the concessions each side seems willing to make to advance budget talks and to weigh in on if a deal could be reached by next week.
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